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Informist, Friday, May 15, 2026

MUMBAI – Shares of capital goods companies may fall more next week as these companies' margins are at risk owing to a surge in crude oil prices, which is likely to push input costs higher. Analysts expect these companies' margins to face pressure in the June quarter as crude oil prices continue to remain sharply higher compared to more than two months back.

Further, the hike in petrol and diesel prices by INR 3 each has hit sentiment in the market, with several analysts expecting inflation to rise. "We expect a Rs 10/ltr fuel price hike in the immediate future – either in one shot or via creeping hikes over two-three weeks...," Emkay Global Financial Services said in a strategy report. The hikes in petrol and diesel prices have increased the possibility of hikes in interest rates by the Reserve Bank of India.

The earnings of capital goods companies so far in the March quarter have been slightly better than expectations. Companies, in their conference calls with analysts, said they faced limited impact of the US-Iran war in the March quarter. However, they warned of risk to earnings if the war prolongs and the Strait of Hormuz remains closed. 

During the March quarter, nine capital goods companies from the Nifty 200 index have reported nearly 21% on-year rise in cumulative net profit, excluding one-time income and costs. This was slightly better than expectations of nearly 18% rise. At the same time, revenue growth for these companies was nearly 19% on year, better than analysts' expectations of 16% rise.

The BSE Capital Goods index fell for the first time this week after six weeks of gains – it fell more than 4% this week after rising nearly 22% in the six weeks before that.

TOP HEADLINES

* Analyst Concall:Voltas sees AC prices rise as input costs up in double digits
* Siemens changes its financial year to Apr-Mar cycle
* Kirloskar Oil to spend INR 14 bln on capacity addition in Kolhapur plant
* Carborundum posts INR 175.9-million consol loss in Jan-Mar vs PAT yr ago
* Earnings Review: Voltas Q4 PAT more than halves YoY; misses consensus view
* Earnings Review:Kalpataru Projects PAT falls; sales growth slowest in 6 qtrs
* Kirloskar Oil Engines Jan-Mar consol PAT rises 21% YoY to INR 1.59 billion
* Patel Engg Jan-Mar consol sales fall 11.8% on year, but PAT rises 14.3%
* L&T partners with Exail for Indian Navy unmanned mine counter measure suite
* Sharp jump in tax expenses drags SKF India into the red in Q4, sales up 21%
* Kirloskar Brothers Jan-Mar consol PAT falls 18.7% YoY to INR 1.12 billion
* Schaeffler India sets up research facility with Indian Institute of Science
* L&T's power T&D vertical gets 'significant' orders from West Asia clients
* Samvardhana Motherson board to mull raising funds via debt May 20
* Inox India Jan-Mar consol PAT rises 15% on year to INR 752 million
* Texmaco Rail Jan-Mar PAT rises 61.2% YoY to INR 587.18 million
* V-Guard Industries Jan-Mar net profit rises 22% YoY to INR 953.5 million
* Qatari court asks OHL-Contrack JV to pay INR 4.3 bln to Voltas consortium
* Abbott India Jan-Mar PAT rises 8% on year to INR 3.95 bln, revenue up 7%
* Premier Energies, Syrma SGS drop plan to buy stake in K-Solare Energy
* Syrma SGS Jan-Mar consol net profit rises 54.6% YoY to INR 1.01 billion
* Analyst Concall:ABB India positions itself to cater to data centre megatrend
* Earnings Review: ABB India's Q4 PAT up nearly four-fold YoY, sales miss view
* Earnings Review: ABB India's Q4 PAT up nearly four-fold YoY, beats estimate
* Texmaco Rail bags order worth INR 1.30 bln from Kochi Metro Rail

Following are the resistance and support levels for key capital goods stocks for next week as per calculations based on their prices on the National Stock Exchange:

End

US$1 = INR 95.9650

Reported by Anshul Choudhary

Edited by Avishek Dutta

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